06/27/2013
I often us the Wall Street Journal as my touchstone for current events.
Recently I have been traveling so I have not had time to keep up so to speak. So as I returned from an extended business trip I read the pile of old issues. It took about four hours out of my day but it was well worth it. In a sense it was like going back in time. From reading about eh Ford family to the real reason Paula Deen got dumped by the Food Network.( If you did not know she was in the middle of new contract negotiations and her ratings were falling. Dump the contract! Dah?) I felt I had hit the refresh button.
It was said recently that the newspaper will soon go the way of the penny; of little use and worthless. I don’t however see WSJ going down that same path. It may be totally an on-line product but the information gathered from the WSJ editorial staff is always on point and cogent. Being in the finance business myself it also acts like a metronome of industry pace and tempo. So it serves two purposes. First it keeps me up to date on current events both domestic and internationally. Second it allows me to listen to the pulse of the finance industry.
After I caught up most recently I had a plethora of topics to discuss with my coworkers over lunch. Gold, rogue traders, Yahoo and its competitive posture, Jamie Diamond, Ben Bernanke, Paula Deen, Pilot and the fate of the stock market. What I found interesting was that everyone at those lunches read the WSJ just as much as I did and for the very same reasons. In the world of finance it is important to know what is happening. It is important to stay up to date on relevant facts within the industry. But it also good business to keep your knowledge base grounded in a more global sense. The WSJ allows me to do that.
Financing your business is never easy. The path to forming capital is always a challenge. The WSJ can lead you through the wormhole of information about the industry and help you make good decisions. So what does Jamie Diamond have to do with financing your business? Well simple, the general consensus is that he may or may not be at the end of his performance at JPM. Conclusion: it takes a large management quotient to be considered an effective CEO not only in big business but the small store front too. What can Ben Bernanke do that can affect me? Well guess what? He is making decisions that may encourage banks to start lending again? Paula Deen? Real simple. She was not a financially viable product for the Food Network. Hence cut your losses early with a depleting product. What does Pilot and diesel fuel have to do with me? Well the lesson is in the fact that upper management did not know what lower management was doing and thus may have created a sandstorm of trouble with the federal government. You must pay attention to the smallest of details in your business. Stock market, shlock market! Well gold is falling and it may be a good time to buy and the market may be heading for a correction just like gold so be wary and cautious with your hard earned money.
You see there are a ton of facts published in the WSJ that can affect your business. You have to learn to look for them. So if you want to know what the tone of the finance industry is or you want to learn how to read between the lines or you just need to finance your business and be smarter about the corporate finance process then you and I need to talk.
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To Your Success,
George Lovato Jr.
Principal of BH Capital LTD
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